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Universities Superannuation Scheme – Acquisition of telecommunications network un the UK

Universities Superannuation Scheme will pay 97 pence-a-share for KCOM, the London-listed operator of the formerly municipally owned telecoms network in Hull, implying a 34% premium to KCOM’s closing share price. Combined with net debt of around GBP 108m that KCOM reported in November, the deal values KCOM at around nine times 2018 EBITDA of GBP 68.3m